AFTER READING former Prime Minister Owen Arthur’s comments on the economy, I must confess that a cold chill radiated through my body.
It is clear that the road ahead is likely to be particularly difficult for all of us. Mr Arthur is a highly respected economist, and I support his calls for an urgent national dialogue on the way forward.
I am a firm believer in my people. If we are given the truth, if we are given the facts, if we are invited to contribute, we can overcome any national crisis.
As the governor of the Central Bank has admitted that our deficit is too large, I strongly believe that all Barbadians should take great cognisance of Mr Arthur’s assertions that “we are now fully loaned up to local banks; we have utilised the National Insurance to the hilt and because of the downgrades, we cannot go and borrow from institutions or investors abroad because they are restricted from investing in bonds that fall within the junk status category”.
With dwindling foreign reserves and the Central Bank’s unwillingness to print any more money to finance Government operations, I am eager to find out where we really stand so we can begin to plot a realistic course towards economic recovery and sustained growth.
We are entering the silly season when campaigning for our vote will feature dominantly. I urge you to close your ears and minds to the customary game of blame, as we are yet to see the benefits of blaming someone or something, while the problem remains unsolved.
Anyone vying for my vote must demonstrate their commitment to finding solutions.
My brothers and sisters, let us resolve that this time around, we will not allow ourselves to be confused and bamboozled by political minutiae.
– SEAN ST CLAIR FIELDS